Technical analysis: key levels for gold and crude

Both gold and oil are losing ground, with the slump in the latter showing no sign of stopping.

Gold edges lower

The price of gold continues to decline, although each day it finds some buyers that help it finish off the lows.

Further losses target $1214, and then below this $1205 and $1195. A bounce will head towards resistance at $1236.

WTI plumbs new depths

WTI’s decline shows no sign of stopping.

A bounce will merely bring out the sellers again unless we get a close above $63.00. From here further declines target $56.80 and rising support from the 2016 lows.

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